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"A big thank-you to Karen Loehndorf of Canquest Mortgage Inc. without her we would not have been able to obtain our mortgage. Our unique circumstances made obtaining an approval challenging.
Karen appears however to thrive on challenges and when she took up our challenge she exceeded our expectation in ways we could not even imagine. Her advice was timely and her suggestions helpful, a true professional in every aspect of the word and a credit to her profession.
Karen demonstrated professionalism and determination every step of the way and made the process seamless. Our information was handled with care and confidentiality. Above all else Karen provided us with a peace of mind solution that went well beyond what we had anticipated and because of her we would have no hesitation in recommending Karen and her services."
- Glenn,
Sr. Pastor Lethbridge |
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As a member in any local community, you are part of a “consumers”
world. As a consumer of products, you are likely the owner of
a credit card or two. Perhaps you have a car loan, or have a line
of credit? Whatever the case, you are faced with differing interest
rates with every corner you turn.
Equity in your home can turn
these high interest rates into one low monthly payment. How? Typically,
credit cards themselves have anywhere from 9% - 22% interest attached
to a balance that you carry.
Here’s something to think about
– mortgage rates are far exceeding the cost benefit to place
those debts within your mortgage. You can pay those high interest
rate loans off with your equity! When you consolidate your debts,
you can eliminate high interest payments.
Here’s what you
need to do if you’re in the “overload debt”
boat – Call us! We’ll look at your financial situation;
see what you have incoming, and look at what you have outgoing
each month. Usually, we can suggest a game plan to save you money
at the end of each month. In the past, we have saved hundreds
of dollars each month for clients, thereby creating a completely
different way of living for them!
Ask yourself, “What have
you got in your savings account at this very moment?” Wouldn’t
it be nice to build that savings account up to where you originally
planned? You can possibly do this simply by consolidating your
debt by reducing your interest payments each month. Let us assist
you paving a clear road to the future.
Example - CanQuest has help many clients each month
to leverage the equity in your home to consolidate the debt and
lower their overall payments. The following is an example of how
you are able to save each month by refinancing and using your
equity in your home to lower your monthly payment and increase
your cash flow.
| Before Debt Consolidation |
| Property Value |
$190,000 |
| Mortgage Balance |
$130,000 |
| Interest Rate |
6.5% |
| Term Remaining |
5 years |
|
| After Debt Consolidation |
| Property Value |
$190,000 |
| Mortgage Balance |
$150,000 |
| Interest Rate |
4.5% |
| Term Remaining |
5 years |
|
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|
| Monthly Payments |
| Credit Cards $8,000 |
$250.00 |
| Other debts $12,000 |
$298.00 |
| Mortgage Payments |
$870.77 |
| Total Payments |
$1,418.77 |
|
| New Monthly Payments |
| Credit Cards $8000 |
$0 |
| Other debts $12,000 |
$0 |
| One Mortgage Payment |
$830.21 |
| Total Savings |
$588.56 |
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When you are looking at this example you will see that by putting
all your payments together and refinancing your mortgage you would
have a new mortgage with a lower monthly payment and it would
include all of your indebtedness which increases your cash flow
by $588.56/month. You can use this savings for rrsp investments
or other investments that you wish to increase your net worth.
In order to take advantage of this program you must own a home
and you must leave at least 10% equity in your home. If you want
to use all your equity there are companies who do 100% refinancing
that are not under CMHC or GENWORTH guidelines. These companies
are self insured lenders.
APPLY
NOW
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